Gregory Olson's (golson422) Blog

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Real Estate Agent - REMAX Suburban
RECENT BLOG POSTS
"What Are These Little Buttons On My Outlets?" The little buttons on electrical outlets marked as "test" and "reset" are specially designed to better protect people from electric shock than ordinary outlets.  GFCI's or GFI's as they are commonly called, have been used in homes since the 1970's, a...
02/27/2009
      Illinois Radon Law   Radon Disclosure A state law requires radon disclosure as of January 1, 2008. What do you need to know? When a buyer and seller sign a contract on residential real estate property in Illinois on or after January 1, 2008, the new Illinois Radon Awareness Act will apply ...
02/27/2009
Chicagoland Area Schools   Illinois has one of the most progressive educational systems in the nation. Students from Chicagoland schools are among the best and brightest. The major colleges and universities in the area are some of the most respected in the world, and there are dozens of small to...
02/27/2009
NEW INVESTOR RULES   Beginning March 1, 2009, Fannie Mae is increasing the number of investment properties a borrower can have back to 10, as long as they meet the following requirements:   The minimum credit score is 720   One unit purchases require 25% down payment   One-four unit limited cash-...
02/24/2009
$8,000 For Homebuyers   First-time buyers (someone who has not owned a home in the past 3 years) can claim a credit worth $8,000 - or 10% of the home's value, whichever is less.  They can claim this credit on their 2008 or 2009 taxes.  The purchase must be completed between Jan. 1 and Dec. 1, 20...
02/24/2009
Senate Action on Stimulus Bill  Last evening the United States Senate unanimously passed a bipartisan amendment, offered by REALTOR® Champions, Senators Johnny Isakson (R-GA) and Joe Lieberman (ID-CT) to the Economic Stimulus Bill creating a $15,000 tax credit to individuals who purchase a home i...
02/07/2009
7 Common Credit Report Mistakes Consumers see the ads in the newspaper and read the signs nailed to telephone poles: "Credit problems? We erase bad debt." It sounds so easy. Just call the phone number and pay a fee, and your credit woes will disappear.   The reality is that bad credit does not va...
01/28/2009
Some home features don't stay popular forever. More homes are inching away from incorporating the following home features, according to recent consumer preference surveys. 1. Fireplaces: The fireplace skyrocketed in importance in homes in 1991 with 62 percent of new homes having one or more. But ...
01/28/2009
New! $7,500 tax credit for first-time homebuyers First-time homebuyers can take advantage of the new temporary tax credit signed into law on July 30, 2008, by President Bush as part of the Housing and Economic Recovery Act of 2008. Below are some of the parameters of the new program. Link to FAQs...
10/14/2008
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I think a lot of Potential Buyers/Sellers and Agents alike are confused about what a short sale is and how the process works!  I wanted to set up this blog for other agents, attorneys, buyers & sellers to share their stories to educate everyone! If you or somebody that you know are facing foreclo...
08/25/2008
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Gregory Olson

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